Another record day on Wall Street

Wall Street stocks pushed to fresh records on Tuesday, with financial shares rallying after Federal Reserve chairwoman Janet Yellen signaling higher interest rates are on their way. Banks tend to make more money in a higher interest rate environment.

All three major indices set records for the fourth straight session, with the Dow Jones Industrial Average up 0.5% at 20,503.59. The broad-based S&P 500 gained 0.4% to close at 2,337.46, while the tech-rich Nasdaq climbed 0.3% to 5,782.57.

A new take on Valentine's Day

Do you like flowers? Do you enjoy the odd cake or five? Well, has Mr Kipling got a treat for you.

Behold the "bou-cake".

It is confection of Aqua and Celeb pink roses interspersed with Bakewell tarts, French Francies and slices of Battenburg.

Mr Kipling claims that choosing the right Valentine's Day treat is a stressful endeavor and says that one in ten people "would even consider finishing their romantic relationship, if their partner gave them the wrong card or gift on Valentine’s Day".

Boots owner to meet Trump

US President Donald Trump is due to meet with chief executives from a number of major retailers on Wednesday, including the company that owns British high street staple Boots.

Stefano Pessina, the billionaire boss of Walgreens Boots Alliance, will be among a group including Target, Best Buy and JC Penney who will sit down with Mr Trump to discuss areas such as tax reform and infrastructure.

Mr Trump recently promised to make a major announcement regarding tax in the coming weeks. There are proposals for a cut to corporation tax and the implementation of a 20% tax on imports.

A spokesman for the Retail Industry Leaders Association told Reuters: "Given the retail industry's position as America's largest private-sector employer, retailers welcome the opportunity to speak with President Trump about policies that will spur job creation and economic growth here in the United States."

Union 'concerned' about Peugeot/GM deal

It looks like everyone was surprised at today's bombshell that Peugeot-owner PSA is in talks to buy General Motors' European Opel business.

Len McCluskey, secretary general of Unite the union, said: "This has come out of the blue and it is a concern."

A deal would include Vauxhall, Opel's UK affiliate, which employs about 35,000 people in the UK, including 4,500 at its manufacturing plants in Ellesmere Port and Luton, and at its warehouse and head office in Luton.

Mr McCluskey said: "I think the most important thing, the biggest message is that we want an urgent meeting with General Motors and with Peugeot because one thing is clear, we've got no intentions of allowing our plants both in Ellesmere Port and in Luton to close or to be under threat of closure as a result of what is happening."

Google's YouTube cancels its top star's show

BreakingUS judge backs VW settlement

A US federal judge has granted preliminary approval to German carmaker Volkswagen's proposed settlement to pay at least $1.22bn to fix or buy back nearly 80,000 of its 3.0 litre diesel-engine vehicles.

The proposed settlements for the 3 litre cars are the last major US hurdle for VW over its emissions scandal.

VW previously agreed to spend up to $10bn to compensate the owners of about 482,000 two-litre vehicles after it admitted it had installed secret software to disguise emissions.

RMT union hits back at Southern

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Following the break down in talks between Southern Rail operator GTR and the RMT union, the latter has put out its own statement on the impasse in talks.

RMT general secretary Mick Cash said: "RMT entered today's talks in good faith but it soon became clear that the only thing Southern were interested in was bulldozing through driver-only operations further and faster with safety and access to services not even on their agenda.

"That pig-headed attitude has today wrecked the talks process.

"Not only have Southern refused point blank to give a guarantee on a second safety critical member of staff, but the company have also made it clear that the deal set up by the TUC in the drivers' dispute is even worse than we first expected and gives Southern a free run to kick the legs from under our members who have fought for nearly a year on the principles of safety and access.

"RMT's negotiating team is furious at the way this union and its members have been treated. This is dire news not just for staff but for passengers who rightly demand a safe, reliable and accessible services. I will now take a full report back to the union's executive."

Southern criticises union as talks fail

Talks between GTR, the operator of Southern Rail, and the RMT union have broken down.

The two had held discussions to resolve a long-running dispute over the role of guards on Southern, which has resulted in nearly 30 days of strikes and disruption for rail passengers.

Nick Brown, chief operating officer of GTR, said on Tuesday: "We came to today’s meeting hopeful we could find a way forward to end the RMT’s dispute and we’re saddened it’s ended so prematurely.

"The travelling public will find the union’s obstinate refusal to engage in meaningful and constructive talks disappointing, disheartening and increasingly destructive. Over the past year the RMT has had 28 days of strikes on this one issue, we’ve seen in excess 20,000 trains cancelled as a result, thousands of journeys disrupted, people’s work and family lives badly impacted and the cost to the regional economy is in excess of £300m."

He said that conductors had transferred to a new customer service role - known as the on-board supervisor - from the beginning of January and "are now operating effectively in that role".

Mr Brown added: “So the conclusion that most reasonable people will reach is that the RMT is seeking to hang on to its power to cancel trains.

"Everyone is sick and tired of the RMT’s strikes and their pointless and intransigent stance needs to stop, and stop now.”

BA will fly despite strike action

British Airways has promised to fly all passengers to their destinations after Unite the union announced further strikes for 22-25 February.

The industrial action is over pay.

BA said: "Our pay offer for mixed fleet crew is consistent with deals agreed with Unite for other British Airways colleagues. It also reflects pay awards given by other companies in the UK and will ensure that rewards for mixed fleet remain in line with those for cabin crew at our airline competitors.

"Our pay offer for mixed fleet cabin crew is consistent with deals agreed with more than 90% of British Airways colleagues, including many Unite members. More than 9,000 cabin crew, represented by a different Unite branch, this week voted overwhelmingly to accept the deal."

Yellen: US growth is 'very disappointing'

Senator John Kennedy is taking an aggressive stance against Janet Yellen.

Firstly, he presses her on the rate of US GDP growth which rose at 1.9% in the fourth quarter. Ms Yellen concedes that it is a "very disappointing level of growth".

Then the Republican senator for Louisiana asks whether community banks contributed to the financial crisis. Mr Yellen says they did "nothing" and agrees that the regulatory burden is "high" on community banks.

And in his final question, Mr Kennedy asks Ms Yellen if she thinks those responsible for the financial crisis should have been sent to jail.

"I think those accountable should have had appropriate punishment, " she says, adding that it is up to the Justice Department.

Although she says that she understands that "in many cases they could not get criminal convictions".